Presentation by Finalists of SAMM's (Student Association of Management and Marketing) Consulting Case Competition with ANZ Banking Corporation and TBWA. Our proposal includes 4 key disruption inspired ideas for ANZ's strategic direction. Semester 2 (August) 2017 at The University of Melbourne.

1. ANZ x SAMM
Naptime At The Finish Line

2. The Team
Kate Gilchrist
Bachelor of Commerce
Marketing
Nicole Gonzales
Bachelor of Commerce
Marketing & Management
Serah Balasuriya
Bachelor of Arts
Media & Communications
and Law & Justice
Sue Ann Chong
Bachelor of Commerce
Finance & Accounting
Naptime at the Finish Line

3. What you said
“ANZ want to differentiate our everyday banking offer, focusing
on the emotional as well as functional benefits. Essentially,
making it easy for customers move, manage & use their
money.”
The goal is for millennials to feel on top of
their money
Access to money in the moment is crucial
Everyday banking is not the most important
thing in the minds of millennials

4. Insights into Challenges
Millennials think all banks are the same
Now that ANZ leads the market in mobile payments, what is the
next step to further ANZ’s presence in the up and coming
FinTech industry?
How can we help customers even more?
This means traditional marketing touchpoints with
customers have less impact when coming from ANZ as
opposed to Google or PayPal

5. Target Audience
Security Multi-channel
Real-Time
Flexibility
PrivacyCustomized
Personalized
Emotionally Connected
Convenient
Automated
Millennials will make up 42% of the Australian workforce by 2020
75% of the US workforce by 2025
- and they’re open to whoever provides it

6. Target Audience
ANZ has the opportunity to be the first bank to provide
services that reflect the growing generational gap

7. ANZ’s Future in
FinTech
Financial Industry Disruption
P2P Lending
All About You Campaign
The Future of Online
Banking
1
2
3
4
Digital Wallet

8. Idea #1:
Digital Wallet
1. Introducing the Digital Wallet
2. The Digital Wallet is set to Take Off
3. How?

9. Introducing the Digital Wallet
Online MediaPrint Media
Cash Card Now What?
The future is moving from Card to DIGITAL WALLETS

10. What is a Digital Wallet?
Current purchase abilities and
characteristics
Some Corporations are now
Working On
Buy Things with Cards
Incorporating Lifestyle Services
Buy Things with Apps (like PayPal
and Apple Pay)
Near Field Communication
(PayWave)
Check balance and spending
online/on mobile
Transfer money using BSB Account
no. or mobile no.
Incorporating loyalty cards and
reward services on digital platforms
Transferring money using email
information

11. What is a Digital Wallet?

12. The Digital Wallet is set to Take Off
80% of respondents use their Debit Card to pay for everyday
purchases such as Gas, Meals and groceries
14% of respondents use cash for everyday purchases
100% of 18-24 year olds report using their debit card for everyday purchases
80% of consumer spending in the US was cashless
Use of cash has fallen from 69% in 2007 to 47% in 2013
Card terminals have increased 35% since 2007
3 main reasons people prefer cards over cash:
Safety, Convenience and Control

13. The Digital Wallet is set to Take Off
Safety?
Convenience?
Control?
• Safe and Secure, ANZ is a long standing and well
established institution.
• The problem now? Being inserted into culture and
change what ‘banking’ means to people.
• By making banking “simpler”, “catered to you”, “part of
your world”, and as convenient as possible.
Banks have fallen short and not much has
changed. Here’s our strategy.

14. Digital Wallet
Multi-Currency Accounts
A multicurrency account is a savings or everyday transact
account that allows you to make deposits and
withdrawals in a range of foreign currencies.
• More than ¼ of people in Victoria alone are
born overseas
• Australia is welcoming more immigrants
everyday
• Giving customers control lets them protect
themselves
• Makes them feel IN CONTROL
• Gives them power to manage their
currencies in their digital wallet.
S CC

15. Digital Wallet
More than Just a Mobile App
• Millennials and generation Z are born
into technology
• High expectations and preference for
personalised devices
• ANZ’s mobile app leaves a lot to be
desired for this generation
• Why not give customers more reasons to
use the app?
Case study: CommBank, My Spend
Let’s take it one step further.
38 per cent of Australian customers' interactions with
their bank occurred via a smartphone or tablet in 2014, up
from 22 per cent a year earlier (Bain, 2014)

16. CC
Digital Wallet
Making Banking a
Positive Experience
Everyone loves a game.
●Turn tracking into a proactive and daily fun
activity to look forward to
●Setting up weekly/bi-weekly/monthly
challenges
●Enable game related push notification
reminders
●To make the challenge more attractive,
rewards can be given should they be able to
successfully complete it.
S

17. Digital Wallet
The Everyday App
●Work together with popular B2C brands such as Myer or Coles
and lifestyle apps such as Zomato or Uber
●Link money management and lifestyle services
● Link a strong banking institution with strong lifestyle brands used
by everyday consumers
●ANZ can create a powerful one-stop platform that can provide
lists of things to do/eat, places to go, as well as once more
collaborations are established, a loyalty card system keeping all
your cards in one place.
Money management Lifestyle Services Inserted into Culture=
CCS

18. Idea #2:
P2P Lending
1. Peer to Peer in the Modern Marketplace
2. Opportunity for ANZ
3. Collaboration in Practice: Some Examples

19. What is Innovation Now?
84% of Millennials would consider banking with a tech
company if they had a better product offer or deal
than a traditional bank.
They are seeking new experiences – new ways of
providing financial services that are different to what
is currently available.

20. Peer to Peer in the Modern Marketplace
Peer-to-peer (P2P) or marketplace lending,
refers to a decentralised platform, where
investors facilitate lending between individuals
or businesses.
The amount P2P platforms lend today may be
comparatively small to incumbent banks, but
convincing attributes that suggest this new model
of lending has the potential to reshape the
industry and cut into the market share of
established banks.

21. The Situation
The value of loans made through P2P lending platforms in Australia
will surge to $22 billion over the next five years
By 2020, P2P lending to Australian consumers will increase to $10.4
billion and comprise 6% of total consumer lending in Australia
By 2020, P2P lending to SMEs will grow to $11.4 billion
In the long term, an estimated 30% of annual revenue of the major
banks – or $27 billion – could be threatened by new players,
including P2P platforms

22. The Situation
33% of millennials believe that in five years they will not need banks at all
73% say they are more interested in alternative
financial markets
1 in 5 millennial investors choose to invest on the platform because they
were unable to invest in residential property
Millennials are 10 times more likely as people over 50 to
consider using peer-to-peer lenders
23% of millennials use or are likely to use peer-to-peer lenders,
compared with 2% of those over 50

23. The Opportunity for ANZ
For established banks, marketplace lending poses a threat, but if
addressed proactively and dynamically, also presents an
opportunity.
● ANZ is strong in customer base and brand recognition
●P2P platforms are agile, entrepreneurial and capital-light
Collaboration between P2P platforms and ANZ can lead to
accessing greater opportunities and minimise loss of market
share.

24. The Opportunity for ANZ
Given ANZ has the architecture, credit and risk-management
processes to leverage the concept of P2P within or alongside its
own structure, there is a potential to capitalize on this to diversify
risk and provide finance to millennials when it was previously not
possible.
The prospective profits through this include the ability to take a
cut, earning an origination fee, and a second fee for payments
processing and servicing the account. More importantly, these
profits can be generated while off loading the actual credit risk on
investors coming through the P2P platforms, thus avoiding capital
charges.
A reciprocal arrangement with a P2P platform can result in
referrals to ANZ, when clients are in need of additional banking
support.
Through forming partnerships with P2P platforms, ANZ has the
option of an additional distribution avenue. Rather than turning
away riskier investments, ANZ can service clients via a P2P
platform.

25. Collaboration In Practice: Santander x Funding Circle
Santander partnered with Funding Circle two years ago, with the bank directing its focus toward improving customer
service by referring clients to the platform when the bank itself is unable to provide financing. Through this, Funding
Circle have been able to service previously inaccessible international markets.
This reciprocal arrangement results in Funding Circle referring clients to Santander when they require additional
banking support.

26. Collaboration In Practice: Union Bank x Lending
Club
Union Bank and Lending Club partnered in 2014. This collaboration made way for the creation of new products for Union
Bank customers.
Under this agreement, Union Bank purchases personal loans through the Lending Club platform and the two companies
work together to create new credit products to be made available to both companies’ customer base. This approach
allows for lower rates and superior service to clients of both companies.

27. Collaboration In Practice: Metro Bank x Zopa
In 2016, Metro Bank became the first UK bank to lend directly through a P2P lender – Zopa. This allowed Metro Bank to
better mobilise its deposits to earn an interest rate and expand beyond the UK. The move will see Metro Bank receive a
return by lending millions of pounds each month directly to UK consumers through Zopa.

28. Idea #3:
The Future of Online Banking
1. A Crucial Customer Touchpoint
2. Customer Service and Elevio

29. A Crucial Customer
Touchpoint
35% of Australian customers' interactions with
their bank occurred via online banking in 2014.
However, despite falling by 7% in the past year
as more users are moving to smartphones and
tablets (38%), the webpage continues to be a
crucial touchpoint with existing and potential
customers.
Source: Bain/Research Now NPS surveys 2014

30. or
A Crucial Customer
Touchpoint
?

31. ● 89% of customers get frustrated
because they need to repeat their
issues to multiple representatives
(Accenture, 2013)
By 2020 a customer will manage 85% of the relationship
with an enterprise without interacting with a human
(Gartner, 2011)
Customer Service at its Finest?
● According to consumers, customer
service agents failed to answer their
questions 50% of the time
(Harris Interactive, 2015)
● 90% of customers say they have had
poor experience seeking customer
support on mobile
(Software Advice, 2015)
● 70% of the time, a decision to a
customer query is made before the
customer even contacts the company
(SSI, 2013)

32. “ provides tools for site owners to
improve their customer success and
engagement through the creation, curation
and delivery of contextually relevant in-app
help, which also has the added side benefit of
reducing support load.”
of customers think it’s important to solve
product or service issues themselves
(Zendesk, 2013)
of customers prefer to have self-service
options available on a company’s website
(Econsultancy, 2013)
50%
51%
Self-Service Support with elevio

33. Localization
Contextual Knowledge
Site Status
➢ Deliver self-service in-app support
➢ Drive customer education
➢ Increase engagement
➢ Decrease support resources needed
Self-Service Support with elevio

34. Idea #4:
All About You
1. Digital Media as an Emotional Catalyst
2. Using Guerilla Marketing Tactics to Create a Social Buzz

35. Digital Media as an Emotional
Catalyst
It is time we roll up our sleeves if we are to
arrive at a form of banking that is finally
integrated into the consumer's life in an
emotionally connected way.
While some of us from the previous
generation lament how digital technology is
killing our old proven techniques, studies
show the reality is that digital media has the
power to have just as much emotional
impact, if not more.

36. a) You Matter, Today and Tomorrow
America has “Humans of New York”.
How about a “People of Australia”?

37. a) A Day in the Life of...
Where can we find people to feature?
Through nominations sent via email or tags
on social media.
If possible, we can also roll out a series of
videos that shows a day in the life of these
people with extraordinary stories.
The purpose of doing this is to show that
ANZ has a heart and that we want to connect
with the people on an emotional level.

38. Using Guerilla Marketing Tactics to Create a Social
BuzzDistinction
Unconventional
Advertising
Inexpensive
Creative
Liberty
Potential for
Virality

39. b) Random Acts of Kindness
“Your presence alone makes a difference in the world”
And for that, ANZ wants to show appreciation by doing
little things to make your day.
Week 1 Giving free hugs at Federation Square.
Week 2 Doing a flash mob in the city, where every
participant stops all of the sudden at the same time. Once
everyone is staring, begin dance routine. End it by pulling
out blue flowers and handing them to a stranger.
Week 3 Getting a well-known band or artist to do a
surprise performance in the train or tram.
Week 4 Drive a branded van around the city during
summer and give out refreshments/ice cream.

40. c) More than Just a Machine
Inspiration board

42. Make banking fun.
Show that you care.
Give ANZ a heart.